Have You Done Your Homework?

I have just joined the bandwagon of being a parent and as parents one needs to figure out a plan for securing the kid’s future. With time, the cost of living and education has multiplied in layers.

Every parent plans and saves for his child’s aspirations in whatever way possible. While FDs, savings deposits and kids plans were the favourites, Mutual Funds are a new and less explored areas. It is time to give them a shot, because they definitely look like a better option.

Recently at an investor awareness campaign by Axis Mutual Fund, I was in for surprises. The event was not boring and it also explained a lot of financial jargon in layman terms. I never imagined learning about mutual funds could be this fun.

Watch this video to know about the experience in detail–

The moment I entered the space it was a very interesting sight. A fleet of “canvases” awaited me while all bank “biggies” were ready to meet and greet us with their oh-so-warm smiles.

I think I loved the entire “paraphernalia” of the event. I had seen the #doyourhomework video before hand and hence I did know that something fun was going to happen, but it was far more interesting in person. I am a new mum and for me, just like the rest of us, the baby’s well-being and future are now a big concern. Every parent and the kid were given a canvas each to draw what they think their little wanted to be when he/she grows up. Similarly, the little one had to draw what he wanted to be without discussing it with the parent. The results were surprising most of the parents had no clue on what their offspring wished to do in future.

Here’s a video of how the kid felt when he saw that his mom thought he would be a cricketer. While he wished to join the army.

This shows us how we are not on the same page with our own kids. We have to know our kids in order to secure their future. Though there have been earlier investor education campaigns like Save Less & Share More by Taxman on ELSS. But, what is surprising and interesting is that, prior to this none of us ever thought of Mutual Funds as “long term” investment plans. After years of research and hard work they have come up with this amazing concept. The entire website and idea and campaign have been designed keeping in mind “aam admi.”

We discussed how the quality of education and the cost of education as multiplied over time. A degree in IIM Ahmedabad used to cost Rs. 3000 in the 1980s while the same costs around 18+lakhs today. Think about the future and you might not be able to multiply the cost to that extent.

Aam Admi parent need not be a financial guru to understand the technicalities of this plan. The website is super pleasant to look, my 10-year-old niece loved it to the core, the colours the various career options it discussed. However, it is meant for the parents to #doyourhomework and calculate the various ways you can save for the future.

A lot of activities are currently part of Axis Mutual Fund’s promotions in order to create awareness regarding the #Doyourhomework campaign at Splash, Crossword bookstores and KidZania.

Their website http://www.homework.axismf.com has everything from how to manage your portfolio, a calculator to know an estimate of how much to invest and what can be the rate of interest. Know about the mutual fund plans that suit you best and gamification of certain ideas regarding the monetary decisions for your kid. MyHomework App helps you understand the plans in detail, you should definitely try it out.

As a mother of a toddler who can not even speak “mumma” but runs at the sight of a laptop, I think I am definitely looking forward to investing into it.